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In what ways is a serf a different economic creature from a modern farm worker? How is a slave different from an industrial worker?
A movie producer has to decide whether to bid for the film rights of a modestly successful novel. If he bids, he believes there is a 90% chance that he will be successful in obtaining the rights. If the bid is unsuccessful he will have to pay lega..
Liliana Alvarez's employer offers its workers a two-month paid sabbatical every seven years. Liliana who just started working for the firm, plans to spend her sabbatical touring Europe at an estimated cost of $25,000.
Because WalMart has never systematically raised prices, there is no evidence that WalMart is engaged in:
A family has 5 natural children and has adopted 2 girls. Each natural child has equal probability of being a girl or a boy, independent of the other children. Find the PMF of the number of girls out of the 7 children.
Find the equilibrium price and quantities for the case in which the two taxi companies engage in Cournot (quantity) competition. What profits will Big Ben Taxis and Whitehall Taxis earn.
Show that there are no transitional dynamics, so that starting with any N(0) > 0, the economy grows at a constant rate.
Suppose a firm produces its output in two different plants. Production costs at plant 1 are given by C1 = 4(Q1)2, where Q1 is the amount of production at plant 1. The production costs at plant 2 are given by C2 = 2(Q2)2
How would you advise the government to tweak the policy for the following year? Why?
The costs of providing this consumer with insurance are CI(θ)= α + 2βθ where -0.5
Imagine that Congress is considering a bill to reduce the current twenty-year life of most patents to eight years. What negative effects might this change have on the rate of innovation? What positive effect might it have for the economy?
A construction company is considering changing its depreciation from MACRS method to historical SL method for a general purpose hauling truck. The cost basis of the truck is $100,000, and the expected salvage value for depreciation purposes is $8,..
What is the effective rate of protection on the process of turning corn into ethanol?
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